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Hong Kong Under Secretary for Financial Services and the Treasury Chan Ho-lim said that enforcement action would be taken against unlicensed payment platforms as necessary under the statutory regulatory framework; suspected cases of unlicensed operation may be handled directly by the Hong Kong Monetary Authority and referred to law enforcement agencies.
The Hong Kong Government said that, from 2024 to January to 2026 years, the HKMA received September complaints concerning suspected unlicensed issuance or operation of stored value facilities, of which 16 were substantiated after investigation, and it is following up with the relevant companies. 1
Hong Kong’s Financial Services and the Treasury Bureau stated that an amendment bill will be submitted within the year to establish licensing regimes for virtual asset trading, custody, advisory and management services.
The Hong Kong SFC’s official website lists “E Fund” as an unlicensed company and says it falsely claimed on related websites that it had been approved by the SFC.
Hong Kong’s Securities and Futures Commission and Financial Reporting Council signed a new Memorandum of Understanding, bringing virtual asset service providers, authorised funds and other entities within the scope of cooperation on financial and compliance reporting oversight.
The Hong Kong SFC and AFRC have signed a new MoU, extending regulatory cooperation to the financial and compliance reporting, and related audit and assurance work, of licensed institutions, licensed virtual asset service providers and funds.